Joan Bottarini, the Executive Vice President and Chief Financial Officer of Hyatt Hotels Corp (NYSE:H), recently sold shares of the company amounting to a total of $811,355. The transactions, executed on December 16, 2024, were part of a pre-established trading plan under Rule 10b5-1. The sale comes as Hyatt, currently valued at $15.1 billion, trades near its 52-week high of $168.20. According to InvestingPro, the company maintains impressive gross profit margins of 69%.
The sales involved a total of 5,000 shares of Class A Common Stock, with sale prices ranging between $160.48 and $163.31 per share. Following these transactions, Bottarini now holds 10,798.935 shares directly.
These transactions were carried out under a trading plan adopted on September 16, 2024, ensuring compliance with insider trading regulations.
In other recent news, Hyatt Hotels Corporation issued $600 million in senior notes, planning to use the proceeds for debt repayment and general corporate purposes. This move is part of Hyatt's strategic approach to managing its capital structure. In the meantime, potential changes in stock ownership are on the horizon, with Pritzker family stockholders considering the sale of up to 15,360,573 restricted shares in the public market.
Baird, a financial services firm, revised its price target for Hyatt slightly upwards to $158.00 from $157.00, while maintaining a neutral stance on the stock. The firm cited brand acquisitions, a significant asset sale, and a revised net unit growth outlook as influential in Hyatt's performance.
Despite challenges from natural disasters impacting leisure travel, Hyatt reported a system-wide RevPAR increase of 3% and a 10% expansion in its hotel pipeline. The company's World of Hyatt membership also saw a significant increase, reaching a record 51 million, a 22% increase from the previous year. Furthermore, Hyatt completed significant asset sales, including the Hyatt Regency Orlando for $1.07 billion. These are among the recent developments in Hyatt's operational and financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.